Categories: Technical analysis

EURNZD Wave Analysis – 15 July, 2019

  • EURNZD broke support area
  • Further losses are likely

EURNZD recently broke the support area lying between the key support level 1.6820 (which reversed the previous impulse 1), 100-day moving average and the 50% Fibonacci correction of the pervious upward impulse from March.

The breakout of this support area accelerated the active short-term impulse wave 3.

EURNZD is expected to fall further and retest the next support level 1.6700 (former support from April).

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The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: EURNZD

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